Lucescu Realty Announces the Sale of a 1.05 Million Square Foot Center on Behalf of Macerich
- LUCESCU REALTY exclusively represented the interest of the Seller, Macerich, and procured the Buyer, an East Coast based, Private Investor.
- An Approximate 550,003 Square Foot Portion of a Market Dominant, Open-Air Regional Shopping Center Totaling 1,033,127 Square Feet Leased to Many of The Top Retailers in America.
- 78.2% leased; Over 99% of the leased GLA are National and Regional tenants that account for over 99% of the Total Annual Base Rent.
- Immediate Opportunity to Add Value, through Management, Leasing and Development expertise.
- The Property is situated on a 125-acre parcel at the intersection of Interstate 10 and State Highway 287 and extends approximately 2,800 feet along both thoroughfares.